Mark Cuban Visits The Dave Ramsey Show - Part One

now you guys to listen to the show all the time you know that 90% of the time 98% of the time you pretty much are stuck with me I'm the deal this is what we do it's you and me talking about your life and money but occasionally I run into a friend and I think they got something to say and I bring them on because I know they got something to say and then you're always thankful that I do that so this is not a guest a guest driven show but but occasionally we talk somebody a world famous into coming on today is no exception Mark Cuban is joining us he's stopping by Nashville today to do some other stuff and we talked him into sitting down and spend a little time with us welcome mark thanks for having me Dave well congratulations on a pretty successful season thank you Mavs did well not well enough but we'll take it yeah you got to a point but yeah unless you're unless you're still in it you're not exactly there's one winner 29 teams tied for last yeah that's how it works well welcome to Nashville we appreciate you swinging by now you and I have had a lot in common we bounce back and forth emails and tweets and things over the years and we've talked about a lot of different different subjects you know what I want to start off with today is you know there's two sides to this whole money equation there's the income side the outgo side and most of the time I'm spending my time on the outgo side I'm telling people hey you got to trim this you got to amputate the tie Oh freaking ball stuff you can't afford absolutely that I'm the guy that's doing that all the time but occasionally I tap the brakes and I reach over and go you got an income problem an income problem you've had this unbelievable I've watched you from afar and I've watched you a little closer in the last few years unbelievable tenacious work ethic what even even when you were a kid where's that come from I have no idea I guess my dad my dad did upholstery on cars and I watched him get up at 6:00 7:00 in the morning or go to work 7:30 in the morning 6 days a week and lots of times work half a day on Sunday and I think he well I don't think I know he was very clear that you aren't going to follow my footsteps you are not going to do what I do um and you're going to have to do whatever it takes and work however hard you have to to do better and you know and I've since I've been a kid I've just been relentless that's the only way to put it now you have brothers and sisters two younger brothers are they wired like that too no not at all they're not as driven no not the same way at all they're completely different yeah I mean I was the work nerd at my house I was a kid little kid I had to be in business I had to have something going all the time Paulie I mean it's always something what was yours your first thing you did to make money um first thing was selling garbage bags door-to-door um I wanted some basketball shoes and my dad basically said those shoes work you know that you have on your feet and when you have a job you can get whatever you want and um one of his poker buddies set me up to sell garbage bags door-to-door too so I can get some basketball shoes you know Rachel and I just finished the book smart money smart kids and we we talked to families all the time that one things you have to do regardless of your income regardless of your socio-economic strata you have to teach kids to work oh yeah I mean with my kids you know their health is number one my number one fear and then just not being jerks is number two I wanted seriously I want them to appreciate and respect not just what it takes to be successful but the effort that other people put in as well that you know nothing is given to you and they're certainly not going to have anything given to them you know there's that Malcolm Gladwell talks about it in the book outliers 10,000 hours of practice exactly in thousand hours of practice to be world-class at something and and business is no different I always tell people business is is a sport and I've sat down with our players you know upset with Dirk and Vince Carter and others and said look you know you play basketball for 48 minutes you practice two three hours a day and have days off to rest in business there are no days off there are no minutes off business is a sport where it's always game time 24 by 7 by 365 by forever and there's always somebody trying to beat you and and the minute you let down your guard you're out of business absolutely now you and I were talking during we were having lunch right before we I jumped on the microphone and we were talking about my youngest is graduating from college and you and I have both been maybe some of the loudest mouths on the whole planet between the two of us would be we've been teaming from Dallas to Nashville for a lot the stupidity this student loan Christ oh my god is horrible you know it's people talk about bubbles and the questions but are we in a tech bubble of the stock market no but are we in a college tuition bubble absolutely and will that bubble burst absolutely and you know typically behind every bubble there's a lot of easy money and companies taking advantage of the easy money and inflating their revenues and what colleges are doing are no different you know it's easy to borrow money on B to go to school to get a student loan because it's all guaranteed you know and colleges are happy to take it and it's easy to raise tuition because as long as students can borrow as much as they need why once you raise your tuition why once you spend it on nonsense that a college why wouldn't you build buildings you don't need in hire administrators that you have no use for because you know the money keeps on coming in and not only is that bubble going to burst and impact colleges and universities but it's having a significantly negative impact on our economy right now kids can't graduate from school and go you know least new apartments or buy new homes or buy new cars or go out and buy a new suit instead they've got to just you know pay back their student loans and that's that's a huge strain on our economy it's a big problem it's you know prom you and I are both voracious perpetual learners because just if you don't if you're not learning you're getting killed exactly getting your head take so immediately so knowledge is not a problem we obviously believe in gotta work yeah so what are you teaching your kids about going to college um well my kids are for seven to ten so I go but I mean you're know you're thinking about this what I try to teach them is that you know you've got to learn how to learn to me the most important part of college is you know are you learning how to learn because luck learning is a lifetime achievement you know something you've got to continuously do and one of the things that I'm trying to create varied interests for them because I don't care what they major in in college as long as they learn and I want them to start now being excited about learning I mean literally I'm online looking to see if there's any programming camps for my four-year-old you know and trying to convince my daughter she doesn't have to take every dance class in America you know they can learn some other things and experience those very cool very cool now regarding debt your your advice on the best way to get rich other than invent broadcast comm or anything like that you're lucky yeah when we come back from this we're gonna head into a break when we come back I wanna I want you to talk about debt share perception of that consumer debt and the what you would do because I always think it's it's very smart for people to listen to people who have one with money and obviously with your notoriety you you definitely one with money there's any question about guy and you know Shark Tank is a way you're getting into look it into the through into the a lot of these businesses with some specialized yeah and so um we'll talk about that a little bit when I come back as well as some of the things you're learning on Shark Tank so good stop Mark Cuban is our guest this half-hour and so hang out with us America we're glad you're here this is called if you didn't know the Dave Ramsey show you

Channel: The Ramsey Show - Highlights

Views: 1,418,519

Rating: 4.8673882 out of 5

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Id: pWvb0uM7f3U

Length: 7min 49sec (469 seconds)

Published: Wed May 28 2014